Nasdaq POST FOMC continued sells 📉📉📉

Hello, good day traders! 👋🤙

📰Fundamentally,

- US STOCKS-Wall Street extends losses after Fed signals more rate hikes

- U.S. stocks extended losses on Thursday as investors feared the Federal Reserve was far from signaling a less hawkish stance in its fight against inflation.

- Fed raised interest rates by 75 basis points as expected and the policy announcement left open the possibility of smaller increments in the future.

🤔On the technical front,

1.) Looking at the H4 chart, look for a pullback sell entry at 11042.51, which contains the 38.2%, 50%, and 100% Fibonacci lines.

2.) I've set a fairly safe stop loss at 11794.81, which is slightly above the 38.2% Fibonacci line and 50% Fibonacci projection lines.

3.) I intend to take a profit at 9553.03, where the -27.2% Fibonacci expansion line and the 161.8% Fibonacci extension line intersect.

Sell Entry: 11042.51📉

Take Profit: 9553.03 💲

Stop Loss: 11794.81❌